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already cancelling flights. even talk about shutting down the new york transit. hurricane irene wasn't that bad. i'm not going to worry this time, sam. >> dan, we were right over here. the thing about hurricane irene, we got to remember, it was a very bad storm, it brought a lot of rain and a lot of flooding to inland areas. it didn't do the coastal damage. all of the problems that you could have with this system, coastal damage is just one, then you have rain, wind and then flooding. in this case, you have snow as well. you got those five points. maybe one point wasn't as bad in irene in the biggest part of new york. but i'll tell you in the biggest population center of new york, but that was a bad storm for a lot of folks. be prepared for this storm to have a stronger coastal effects. it may be more wind and more rain if these forecasters are right this morning. our ginger zee is right now in atlantic city, where they're getting ready for that. i remember that coastline, it barely ramps out from the water to where those casinos are, good morning. >> i have lost everything. i have n
, it was irene and then lee directly after that. this storm they are saying could be a 1000 a share the mid atlan. i think that means more rain than you expect to see in 1000 years. i would be willing to bet that it will not be long before we see another one of them because we are changing the odds by changing the earth. one thing for all of us to remember, even as we deal with it on the east coast, this is exactly the kind of order people will be dealing with all over the world. 20 million people were dislocated by floods in pakistan two years ago. there are people with fears about what other nations will survive the rise of sea level. we're seeing horrific trout not just in the midwest, but much of the rest of the world. this is the biggest thing that has ever happened on earth, climate change. and our response has to be the same, and the two. >> bill mckibben, what are you waiting until after the presidential election to have your 20-city tour raising the issue? >> we have been involved as we can be in the political fight, but we don't want this issue to go away when elections are over. even a
, for the most part, dodging hurricane irene. >> do you expect that this time around? >> no, i don't. at this think we're probably already further along in this storm than we were with irene. the ocean is angry right now. and we're going to see a storm surge. >> reporter: a surge that could raise sea level up to eight feet above normal, enough to flood much of this city. police are urging but not forcing people in the evacuation zone to leave. most here are heeding their advice. the boardwalk is all but abandoned. but some like brian have decided to stay. >> got everything pretty well situated, bunkered down, generator is ready to rock. hang out, ride it out, road out irene last year, wasn't that bad. >> reporter: but the experts say this storm could be much worse than irene. here in maryland and farther up the coast including in new jersey. and that's where elaine quijano is, elaine? >> reporter: well, chip, we're in the town of bayhead, new jersey, which is especially vulnerable it sits just ten feet above sea level and like other coastal communities residents here have been orde
higher than irene in new york harbor. >> wow. >> irene didn't make flooding. but if you take irene and add four more feet to the top of that surge, you're well over battery park. you're well up above the seawalls on both the east river and the hudson. then you think about the other side. you think about hoboken, you could get water 12 feet higher than normal. what would that do to the property? what would that do to rthe refineries over there. >> it's been hugging the east coast for a while. are we talking about the del marvo area, is it east of that, or is that the quandary here. >> that's the $60 million question. we know this storm is still going straight. it is not forecast to continue straight. it will turn west and hit the u.s. if it turns quickly it will hit the del marvo and truly affect washington, d.c. with a significant bigger punch than is forecast now. >> with hardly any drainage. >> you push that water up to chesapeake and all of a sudden you have a significant basin that will take water and it will go up quickly. that's not the forecast. if it goes up north, it takes
advisory on hurrican irene. we want to go to rob marciano who will tell us what this latest advisory is about. >> it's frightening, up to 85-mile-an-hour wind now. there's a possibility from reading some nuggets from the national hurricane center that it could strengthen some more. we knew we had that possibility. still over the gulf stream where waters are still warm enough to sustain a hurricane. also getting into an environment where it favored strengthening. that's what we've seen. here it is in the satellite picture. 85-mile-an-hour winds. that's a moderate strength category one storm with possible strengthening as we go through time. about 380 miles south of new york city it's movement has picked up northerly about 15 miles an hour and we still expect that turn toward the west later on. this is huge. reading some technical stuff, the tropical storm force winds, diameter nearly 800 miles wide. that is huge. the second largest tropical system we've seen in the last few decades. hurricane force winds extend 150 miles out. the amount of damaging winds is about 350 to 400 m
irene which do cause some minor flooding in this area. they're concerned this could cause major flooding. there was a study out of columbia university that said had hurricane irene been one foot worse it could have caused an additional $50 billion in damage. the fear here is that if the water comes up over this seawall, which is right here next to me, it could flood the subway tunnels, even the electrical grid here. mayor michael bloomberg said he's considering shutting down two electrical networks in lower manhattan. that would shut down power to some 17,000 people but it could quickly get much, much higher than that. as the day continues we're expecting this storm surge to grow. high tide is about 8:50 tonight. there's a full moon so it's an even higher tide than usual. if that storm surge of six to eleven feet hits right at that bad moment, that is what concerns them most, soledad. >> of course, john, it's cold! usually when we cover these hurricanes it's much warmer. but if they lose power, as many people are predicting, 10 million people up along the east coast could lose power, you
evacuations in the low-lying areas of queens and brooklyn. he ordered that in hurricane irene and thankfully, there were no problems at that time. but officials taking this very seriously, potentially flooding in brooklyn and queens on the atlantic ocean and new york bay, as hurricane sandy bears down on the northeast. we will have continuing live coverage, throughout the hour. >> the fox extreme weather alert for you, the national hurricane center issuing the latest advisory on hurricane sandy, set to strike in the north evert. a rare super storm. the hurricane lashing north carolina with pounding winds and rain. massive waves are crashing ark shore on the outer banks. people in connecticut are bracing for the worst with the governor declaring a state of emergency there. let's return to our chief meteorologist. you know, rick, we heard mayor michael bloomberg ordering mandatory evacuations for low-lying areas in brooklyn and queens. you are talking about hundreds and thousands of people and shutting down the subway and buses. >> this happened last year in hurricane irene and it wasn't that
the street. a lot of people after hurricane irene said they decided to stay put. what you see in the distance is a new york city bus that has been converted into a hurricane shelter transport. there's 72 hurricane shelters set up throughout new york city. so far at last check, there were only about 1,100 people staying inside of them. mandatory evacuations were in place for hurricane irene but that storm petered out. this, of course, expected to be much worse. so many people buying generators, water, extra food, deciding to stick it out. the problem with all of that is in the past four hours that we've been here, conditions have deteriorated quickly. so when people notice that something could really be wrong, they may not have a chance to get out safely. veronica. >> you can hear the wind picking up. tracie strahan of wnbc, thank you. >>> moments ago president obama canceled a campaign appearance in florida in order to get back to the white house sooner to monitor the storm. nbc's tracie potts has the latest for us from washington. tracie, what's going on? >> reporter: veronica, as you can se
, comparing her to hurricane irene..."hey sandy, irene left hurriiane storm, comparing irenee.."hey sandd, irene left her panties here,,come try them on." but rporters werrn't so full of bravadd...when the wiid left a crane dangling over manhattaa... (nats) i don't mean toossund chicken but as soon s we saw and wee &psaw it danglinggwe started runnnng from 57th. hhrricanes and higg risss don't mmx. (nats) uh oh we just had lass breaking out heee, we just had glass breaking. for some it (nats))oo even dress up like a shirtlesssman jogging wearing a horreemask the hurricann horse later tweeted out a picture of himself. butt reporters don'tt lways appreciatt prannsters behiid their baaks... nats) big guy there ou can go talk to people ater who llse theii homes. ffom a fake horse to a real deer. wwbc reports this one was rescuee afttr imagine getting that deer in the headlights look from a deer in tte surf. jeannn moos, cnn new york. coming up... will the weather be gooo enough for trick-or-treating? yourrhalloween forecast... next.youure watching fox 45 good ddy baltimorr. adding up th
, ladies and gentlemen, i stood in this very spot a year ago for hurricane irene. there were some similar dire warnings then, and when the storm came, it actually leapfrogged over new york city and landed further up the hudson river and caused considerable damage there, although we didn't know it as the storm was happening and one of the things i've learned in 40 years of coverage these events is that it is always worse than it initially seems because you begin to tally the damage once daylight comes and once things get more calm. but this will not be like a traditional hurricane, this will not be something that happens in six or eight hours and then we're on with our lives and this is an enduring event, it is the collision of the three big weather systems, the tropical hurricanes, the frigid winds coming down from the north and that western low pressure system, everything's going to get churned around and it's going to be part of our lives, unfortunately, for several days, and i think, i fear that before this is over, it's going to be a story with many, many tragic ramifications. but sta
you can see the trees. hurricane irene they lost enough trees. $22,000 worth of trees fell down. this storm expected to be much tougher, more devastating than hurricane irene. look at this. that's a scaffold around an art project. new york city is full of scaffolding like that. things that we are watching today. want to head it over now to "cnn newsroom." newsroom." they're up next. -- captions by vitac -- www.vitac.com >>> good morning to you. i sure hope you're keeping dry somewhere. i'm carol costello. thank you so much for being with us. we begin this morning with hurricane sandy, within hours expected to explode into this superstorm. most of us have never season anything like it in our lifetime. already huge, tropical storm force winds spanning a width of nearly 1,000 mimes. it's aiming at the heart of the east coast, the most heavily populated corridor in the country. 50 million people are expected to feel the effects. hundreds of thousands are now under evacuation orders. fema predicts damage costs of about $3 billion just for wind damage alone. heavy rains or snow, storm
's lay them out. we start with the storm surge. in irene at battery park which is where i am tonight, we had three to six feet. we're expecting four to eight feet with this storm here and down the jersey shore as well. that will be higher than what they dealt with during irene. so plan on similar scenarios there. then look at the rainfall. huge areas of two inches plus, four inches plus. locally ten inches in spots in parts of new jersey and the chesapeake bay. if you remember the state of new jersey was one of those heavily fladed flooded back here with irene. then snowfall. to add insult to injury, west virginia, ohio, maryland, pennsylvania and parts of virginia could get 50 inches of snow with this. add all these ingredients together, that means power outages, some which will last for weeks. pennsylvania, new york, west virginia, an 800-mile-wide damage path with this. on the 108th anniversary of the opening of the subway system in new york, we're hoping that in 48 hours parts of it won't be under water. >> places are holding their breath tonight. jim cantore in lower manhattan for u
in u.s. history. sandy could cause more wind and flood damage than hurricane irene did last year. new york city and especially lower manhattan saw its shares of flooding monday with water reaching record levels in some areas. and speaking of which, cnbc's bertha coombs is live for us outside the new york stock exchange this morning. thank you so much for joining us. can you tell us what conditions are like where you are and what dnlg you' damage you're seeing? >> reporter: it's actually fairly dry. last night in fact the new york stock exchange take to go twitter to dispel rumors that the trading floor was under three feet of water. if you can take a look behind me, the new york stock exchange floor is actually half a floor from the street level where those first balconies are. so for to be under water would be tremendous. we didn't have water in this part of lower manhattan despite that record surge. it was mostly over in the battery. will is significant flooding in several low lying areas especially near rivers. that's on the lower east side. we actually saw a transformer there blow
saw this last year in new york state, for example, when we got the one-two punch of hurricane irene and then the tropical storm lee. so there was quite an uptick in that sort of business. >> ted, thanks. we may catch up again to see how things have hopefully changed. >>> stick around. after the break, we'll find out how the storm could impact the election. the president is getting set to tour new jersey. stay with us for that. >>> we'll leave you with a look at how the futures are trading. the markets are reopening today on wall street. >>> welcome back to "worldwide exchange." >> here are the headlines today. >> super storm sandy leaves a massive path of devastation in its wake, and residents up and down the u.s. east coast are now starting what could be a long and costly recovery process. >> but it is back to business for the financial markets in the u.s., they're going to reopen after a few days. it may not be so easy as new york's mass transit system is still snarled. >>> plus, the force. disney has agreed to buy lucas films for $4 billion and promises a brand-new "star wars" fi
, for irene they were 7, but irene was closer to 20, i think they will be as bad. but now, look at all stores that are closed, flights that have not gone out, hotels and businesses onshore and new york city that are down for 4 days, that is a loss of income. that is 20 billion that gets me to 40. gerri: wow, okay that makes sense. people underestimate the costs. i read new york city alone is an economy with $4 billion that pumps out $ 4 billion every day, times 5 is $20 billion, not just damage you repair. it is also the loss of productivity, workdays, loss payroll, it could be far more devastating than we've been talking babout, you also said, in short term painful but longer term we get a bunch of federal dollars that will pump energy into the economy. >> absolutely, if we have $20 billion in property damage we spend more than that rebuilding, we always do, on the shore property so valuable, they will build bigger homes and businesses. obsolete capital will be replaced by modern capital. we'd get multiplier effect, you spend a dollar on infrastructure, you get a dollar 80 in gdp from additi
the winners, so to speak, and the losers because it is asymmetric, right? >>> now last year hurricane irene's initial projections were $7 billion. turned out to be $15 billion. there were a lot of ancillaries once the checks come out from the government and private insurers. stimulus to the gdp. not big enough to move the needle. this one we're getting initial projections is much bigger. the two cohorts in stocks most impacted the home depot-like places, let's call them that, they were basically moved up a day ahead of the storm and then pulled off once the market turned out to be. >> we didn't see much of that on friday in terms of home depot or at lowe's which i thought was interesting and most of the retailers have closed their books on saturday, last saturday, so the impact of the storm won't actually be seen until the following quarter or the next month when they report retail sales. lowe's is the exception. they closed books on saturday. all the runup, the generators they've sold, the batteries, the flashlights, those things were almost sold out pretty much across the board. that shou
year with irene. we thought it was going to be such a big event for new york and it was a dud. it wasn't a big dud for vermont, new hampshire, new jersey, because of the flooding. but this is what we have to work through right now. this storm that looks like that, like just literally nothing, still a small category 1 hurricane, but can this morph literally into something that will have 80 to 90 mile per hour winds, put 20 inches of rain down, and cause millions of people to be without power for days and probably some for weeks. can it happen? yes. all the forecasts say that it will happen. but you know what, all the forecasts said that irene would be a worse storm than it was and it's not. everyone i'm talking to believes that this storm will be significantly more impact for new york, new jersey, maybe pennsylvania than irene was. >> it's going to be a tropical storm, right, by the time it gets up, by the time it actually hits the eastern seaboard? >> no, it will be a tropical storm briefly in here. here's the model guidance for you. the models are all right there. we put them into mot
. during irene it was 4.4. we expect to double what we had in irene. that's the problem. that's what kicked in yesterday and that's why the mandatory evacuation order was kicked in. the storm is deep in low pressure, and we expect the wind field to push this water up through long island sound and just to give you an example. you can see what's going on here in terms of how high water is. it's below the sea wall, but it's probably going to be about a good third of the way up this pole. that brings it all the way back into the battery and probably into lower parts of manhattan as well. parts of wall street will probably flood, so we anticipate this water to be much higher. the only difference in it could be the fact that it's going to come up gradually as opposed to quick like with the storm surge. not gradual in like 20 minutes but maybe over an hour or so we see that water coming up and coming up. we see the tunnels here shut down. the brooklyn tunnels now shout done, the holland tunnel is closing at 2:00 this afternoon. that's an order from the governor. when you see things like that occur
here, the effects of sandy, are already worse than what we saw with irene. >> absolutely. absolutely. >> now, you see you have packed up the dog. you were under a mandatory evacuation, but you did decide to wait until this moment. did you think that there was a time you could actually ride it out? >> yeah. >> we did until the winds really started picking up. the tide wasn't going out at all, and it was well past high tide. >> i think a lot of public officials are going to be glad that you are heeding the warning and deciding to get out. i'm going to let you get on with your boat. thank you very much for waiting. suzanne, i also want you to take a look down the street here. the guy that you see in the scuba gear, his name is paul. he is a lifeguard. paul, come on over here and talk to me here for a moment. take off the goggles and what not. i know you have been down here in the neighborhood. you've been monitoring things. obviously, you're dressed appropriately for the occasion, but i know a lot of public officials want folks like you to head on out. >> um, yes. however, i'm real clos
. northeast residents remember hurricane irene in 2011 which caused almost $16 billion in damage. james wald lost his apartment in that storm and he doesn't want to go through that again. >> irene, of course that's a lot of money. we're in a new place and we're trying to make sure that everything works. >> with 64 million people expected to be effected by the storm he's not alone. so far there have been no evacuations throughout the area. of course that is always a precaution and something that may happen, ken, back to you. >> thank you, bo knee that. for a closer look at sandy's path. paul deanna with the pig maps. >> i'll tell you what, this is a big storm which needs a big map. it is a monster storm which caused problems all the way from jamaica, cuba, now moving its way up the eastern seaboard. rain goes all the way up towards the outer banks of north carolina, that's not where the biggest concern is going to be. where the biggest concern is going to be up in the mid atlantic. we look at the storm and how it migrates to the north, watch what happens to this forecast track, staying offsho
perdió todo, refrigeradores, comida, no tenemos nada. >>> ni irene el año pasado, ni una gota de agua entró. >>> lamento no haber salido temprano pero no se pudo. >>> no se pudo, cómo quedó la casa. >>> debajo de 4 pies de agua. >>>e ste sector de nueva jersey es una de las más afectadas, nos han contado sus historias de cómo el nivel del agua fue subiendo, pero también dice que con la colaboración de todos pudieron salir adelante de esta prueba . >>> una de 4 habitantes es hispano. >>> nos despertamos a las 11 de la noche y mi vecina nos dijo, nos inundamos y en 5 minutos esto creció impresionante. >>> aquí estamos. >>> entre los vecinos se ayudaron. >>s>sí, sí y así estamos ayudándonos. >>> durante todo el día los organismos de socorro realizaron búsquedas. >>> solo queda trabajar, es lo que queda ante esto. >>>s andy escogió un sector muy cercano a atlantic city para entrar a la costa este, nayeli chávez geller la recorrió para saber cómo está después del paso de sandy >>> la poderosa sandy no se apiadó de nueva jersey donde la furia de las olas atacaron esta
the candidates are neck-and-neck. >> hold on tight. irene takes me on a fast pace tour of the retirement community in her golf cart. florida is home to many retirees, and a high proportion of them vote. i asked her if they are aware of their influence. >> well, you know, we have people in here 94, 93, 99. some of them are still pretty sharp, and then you have others who are not near that age that do not know what day of the week it is. >> most residents in the community have healthy finances and can afford to pay their rent and purchase a home here. that makes them more likely to lean republican. that is the case with irene, who has supported the republicans for over 60 years. but now, she fears that mitt romney may cut her social security and medicare benefits or privatize them. >> i have never been torn like this in any election, and that's the god's truth. i could have lied to you and said i will vote for romney, but i do not know if i am, and i am a republican. >> state pensions and health care are among the biggest contributors to u.s. deficits. americans agree that government spend
bad trouble. >> reporter: last year during tropical storm irene the waters came within less than a foot from topping the flood walls. now sandy's storm surge is predicted to be even stronger. since irene failed to do the damage here in new york city that many experts predicted. some people like this family who live in the evacuation zone are refusing to heed the warnings for sandy. >> diapers, water, just, you know hoping to make the best of it. >> reporter: there are long lines at the supermarket. >> madhouse today. >> reporter: the streets are crackling with an upbeat preapocalyptic vibe. >> new yorker, what are you going to do? we are a new yorker. >> hard not to enjoy her spirit. the new york stock exchange will be closed. they're worried about keeping the power on all day long. dan harris, abc news, new york. >> it's lick thke that, new yor. keep on trucking. my drugstore was empty. our extreme weather team watching the maps and computer models overnight. >> meteorologist jim dickey joining us this morning with the very latest. what do you have, jim? >> well, sandy continues
hurricane irene and giving you the side of the storms and how they compare. this image from nasa. the one on the left is hurricane sandy and right is irene. it is uncommon for a tropical system to track so far, north, especially during this time of the year >> it is so late in the year, it has taken a lot of people by surprise. we were talking about this with lynette and up to the arrival. the wind, the rain and the severity on our side of the storm. this is a perfect mix to the east and west. >>> that's right. that's our 2 degree guarantee. snow to the west. west virginia and western maryland, up to 2 to 3 feet of? snow. so, yes. you know what, even in the forecast i would not be surprised if this moved further to the east. maybe carol county, big wet flakes into the evening and tomorrow morning. that is not out of the question for right now, we're dealing with plenty of rain coming down across the area. with that, we do have flood warnings up. that's going to be through today. maybe even through tomorrow. right now, the entire viewing area is under the flood warning and even points to t
, when hurricane irene came through and the flooding that i've seen down to my left here, going out underneath the boardwalk, out on the streets where all the homes are on long beach is already much, much worse than irene. further left, because of the conditions here and the camera angle, you can't see it. but there is a lifeguard station that last year 14 months ago in irene was swept off its foundation. it's done it again. the authorities have been appealing to people all day to get out. get out of long beach a get across the bridge. >> bret: stay safe. we will head further south and correspondent steve harrigan is in ocean city, maryland. good evening, steve. >> good evening, bret. hurricane force winds here cracking over the seawall. 15 to 20-foot waves. part of the pier has been destroyed by the waves. the governor making a forceful statement saying stay in your house. this storm is going to kill people. we want to limit the loss of life. stay in the house. as many as 30,000 people now without power. as the conditions are likely to continue to get worse throughout the night. br
much for the water to come up over the walls. last year, for hurricane irene, these residents had to be evacuated. so, this time around, they're ready for the worst. east coast communities going on the offensive. building sand walls, securing property and stocking up on supplies, as the superstorm closes in. after being pounded last year by hurricane irene with its record storm surge and feet of flooding, new york residents are once again bracing for the worst. damage from irene topped $14 billion. and sandy could wreak even more havoc. >> certainly having lived through it. i lost everything in my basement. i had up to ten feet of water in my house. this is a concern. >> reporter: governor cuomo has declared a state of emergency in preparation for sandy's impact. and mayor michael bloomberg warned new york city residents to brace themselves. >> there's the possibility of parts of our city flooding or high winds that could force certain bridges to be closed. >> reporter: last year, in advance of irene, mayor bloomberg made the unprecedented order to evacuate low-lying areas of the
. >> reporter: sandy could create a storm surge larger than last year's hurricane irene. possibly filling the subway tunnels with water. >> lower manhattan is the most vulnerable spot for a storm surge. >> no doubt about they expect this to be a large problem for central new jersey, including philadelphia, atlantic city, new york city all of the way up toward boston. something that we need to pay attenti attention to. >>> now, potentially new york city, where hurricane irene last year wasn't so bad in the city itself, what would you say to people who are tempted to write this off? >> i want to remind folks about that hurricane, it was a bad storm, dan, it just didn't deliver the wind damage that new york city expected and the surge wasn't really here. but if you look inland where it was catastrophic flooding and so many folks were acted that storm. it was a terrible storm. this storm hurricane center said that it will have all of those elements focused on these big population areas, and new york city is one of them. i'm going to ask everyone to be prepared. >> all right, better safe than
. >> reporter: last year, during tropical storm irene, the waters came within less than a foot from topping the flood walls. and now, sandy's storm surge is predicted to be even stronger. since irene failed to do the damage here in new york city that many experts predicted, some people, like this family, who live in the evacuation zone, are refusing to heed the warnings for sandy. >> we have diapers, we have water. you know, just hoping to make the best of it. >> reporter: there are long lines at the supermarket tonight. >> it really is a mad house. >> reporter: yeah. >> like, oh, my god. >> reporter: but the streets are crackling not with panic, but with a sort of upbeat, pre-apocalyptic vibe. >> i'm a new yorker. come on, what do you want to do? what do you want to do? panic? we're new yorkers. >> reporter: hard not to enjoy her spirit. agree with her or not. one last bit of news from new york, david. the new york stock exchange announcing late today that they will be closed tomorrow, however, people will still be able to trade stocks online electronically. back to you. >> she was a class
as the rainfall forecast on the north side, there's not a lot. don't ft. big flooding like we had with irene but once you get to the south side that's the heavy amount so, again, veroni a veronica, sandy has intensified expect to get up to 90-mile-per-hour winds right before landfill this afternoon. we didn't want a stronger storm and it looks like we could be dealing with that shortly. >> what are you talking about, are you saying category 2, 3? >> it doesn't look like it will get to a category 2 and making that hybrid transition anyway so they probably won't go up to a category 2 but the fact the stronger the winds the more water this storm can push and that high tide cycle this morning and a couple of hours will be bad but the one tonight, that's the one that could be historic. >> bill, we'll check back with you. >>> much of southern new york will feel the biggest impact from this storm. right now we go to reporter tracy strahan of wnbc in rock way beach, this morning. tracy, what is it looking like right now? >> reporter: like these waves will quickly be approaches the boardwalk where we
: last year's hurricane irene was the most recent storm to pummel the northeast. it cost the industry roughly $4.3 billion in insured losses. analysts can't yet predict how steep losses from sandy will be, but they say the companies with the most exposure include: liberty mutual, travelers, allstate, and chubb. auden thinks those firms will be able to shoulder a financial hit if the storm's damage mirrors that of irene. >> with every event companies gather more information on potential losses, so catastrophe losses become much more sophisticated. companies use those to measure aggregation of losses and potential losses from a given event. >> reporter: damage from wind, falling trees, and rain coming through roofs is covered by standard insurance policies. but analysts fear much of the damage from sandy to homes and businesses is likely to come from storm surge flooding which isn't. the insurance information institute estimates roughly 300,000 homes in the northeast could be vulnerable to this type of event. but the institute is optimistic many homeowners have flood insurance. >> nothi
quickly to change positions. already we've had more water from sandy than we did last year from irene. we're being told that protectively they'll shut off power down here soon so we hope everybody has gotten somewhere safe. sandy is coming. the question is, how will new york city handle it? the big apple has been shut down to its core. lower manhattan looks like a ghost town. wall street will be closed for consecutive days because of weather for the first time since the 1800s in a place where you have to look up to see where many live, skyscrapers are a concern. wind speeds on the ground are half those on the top floors. sometimes forcing buildings to sway. >> the further up you live the more reason you should close your drapes and just stay away from windows. >> reporter: watch this bath water slosh in a brookline high-rise in gusts of barely 40 miles an hour. half what's expected from sandy. at ground zero still under construction special precautions as teals have worked for days to disassembly a mashed down piece of machinery. fears heightened by that ten-ton steel arm dangling from a
feet higher than the water level was with irene, august a year ago. we're staying hunkered down and bringing pictures the best we can. >> we appreciate that, mike, i don't have to tell you the real estate there is hugely valuable for the state of new jersey. it is a recreational playground all summer for millions of american families. what is high tide where you are? is this the after-effect of the mean high tide on the jersey shore? >> reporter: yeah, the high tide is occurring right about now. it ranges generally between 8-8:30 between atlantic city and up here. so it is occurring right now. so we would suspect, now that the storm has gone inland, and the winds generally -- eventually will come around offshore, that it won't get much worse than this. the water won't get much higher. but again, it is already two and a half to three feet higher, at least at sandy hook than it was with irene. so that puts that in perspective. and i think when we get first flight tomorrow you will see how the entire coastline has been re-arranged from the entire storm. >> i think my wife and i had
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